Bitmine Immersion Technologies (BMNR) disclosed on September 8 that its combined crypto, cash, and “moonshot” holdings reached $15.7 billion as of September 7, with Ethereum trading at a reference price of $2,495 per token. The company now holds 5,929,198 ETH, worth approximately $14.8 billion, representing 4.9% of Ethereum’s total supply of 122 million tokens.
Bitmine is now 97% of the way to its stated goal of owning 5% of all ETH. Over the past week, the company added 28,090 ETH to its treasury, a purchase worth about $70 million at the reference price. The previous weekly purchase was larger at 53,501 ETH. According to Chairman Tom Lee, Bitmine has bought ETH every week since the inception of its ETH Treasury Strategy on June 30, 2025, calling its record of consistent crypto buying “unmatched by any public company in the world.”
Of the total ETH held, 5,067,309 tokens are currently staked through Bitmine’s MAVAN platform, worth around $12.6 billion. The company projects $330 million in annualized staking revenue based on the current 7-day yield. On September 3 and 4, Bitmine’s subsidiary terminated its management services agreement with Ethereum Tower and replaced it with a simpler advisory arrangement with American Validator LLC. The new structure charges a flat 1.5% fee on staking rewards and avoids material early-termination penalties.
Beyond ETH, Bitmine holds 211 Bitcoin, $593 million in cash and marketable securities, a $180 million stake in Beast Industries, and a $91 million stake in Eightco Holdings. The company refers to these equity positions as its “moonshots.”
BMNR stock is up 99% quarter to date, making it the fourth best-performing stock in the Russell 1000 index. The company was recently added to the Russell 1000, average daily trading volume exceeds 38 million shares, and the most recent analyst rating is a Buy with a $30 price target. Bitmine has a market cap of approximately $15.06 billion and positions itself as the world’s largest Ethereum treasury.
Lee added that Ethereum was the best-performing major asset in the third quarter through Friday, beating the S&P 500 by 54.3 percentage points, and that ETH, BTC, and SOL were the top three performing assets since June 30. “We believe this sets the stage for institutions to add to their crypto holdings given the substantial outperformance of crypto versus other macro assets in calendar Q3 so far,” he said.
The update arrives as other corporate digital asset treasuries adjust their holdings, including Strategy reporting no Bitcoin purchase for the week through September 7, Strive announcing a $143 million Bitcoin purchase on August 31, and SharpLink planning to stake $200 million in ETH through Lido.
